BITCOIN

Founder of Binance, Changpeng Zhao (CZ), sought to downplay the significance of the exits of some executives at the crypto exchange, describing news about them as “more FUD” (fear, uncertainty, and doubt). The managers are leaving during an ongoing regulatory crackdown on the major coin trading platform that has affected its market share. CZ Comments on Executives Leaving Binance Amid Regulatory Crisis Changpeng Zhao, founder and CEO of the world’s largest cryptocurrency exchange, defended his company in the face of what he called “more FUD about some departures.” In a tweet posted after it became clear that several executives are leaving, CZ highlighted the remarkable growth of the crypto firm in a few years’ time and assured it continues to hire. 4. Another day, another FUD. On rumors of layoffs. Binance has a “bottom out” (we should probably rename it to something else) program. We constantly say goodbye to people who are not strong fits with the company. Many of them are grea

A lawyer has outlined what he believes to be the most likely outcome if the U.S. Securities and Exchange Commission (SEC) wins against Ripple Labs and XRP is declared a security. He expects Ripple to appeal if the SEC wins, warning: “If Ripple loses to the SEC, there won’t be any money collected for years.” Lawyer Explains Likely Outcome of SEC Lawsuit Over XRP Lawyer John E. Deaton, founder of Crypto Law and managing partner of Deaton Law Firm, has outlined what he believes would happen if the U.S. Securities and Exchange Commission (SEC) wins its lawsuit against Ripple Labs and XRP is declared a security. The SEC sued Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen in December 2020 over the $1.3 billion sale of XRP tokens which the regulator claimed are unregistered securities. U.S. District Judge Analisa Torres is overseeing the case. The Ripple team has maintained that XRP is not a security. “If Ripple loses to the SEC, there won’t be any money collected fo

The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with an official announcement expected to be made during the forthcoming BRICS leaders’ summit. ‘Gold-Backed BRICS Currency’ Gains Attention The subject of a common BRICS currency has gained significant attention as the BRICS leaders’ summit approaches and an increasing number of countries pursue de-dollarization. The BRICS comprises Brazil, Russia, India, China, and South Africa. Their leaders’ summit will take place in South Africa from Aug. 22 to 24. On Tuesday, RT reported that the BRICS is set to introduce a new trading currency backed by gold which will be discussed at the August leaders’ summit. The news outlet cited a tweet by the Russian Embassy in Kenya made on Monday, stating: “The BRICS countries